BigCommerce (NASDAQ:BIGC) Shares Gap Up to $8.85

BigCommerce Holdings, Inc. (NASDAQ:BIGC – Get Rating)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $8.85, but opened at $9.30. BigCommerce shares last traded at $9.03, with a volume of 11,391 shares changing hands.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Barclays reduced their price target on shares of BigCommerce from $16.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday. Piper Sandler reduced their price objective on shares of BigCommerce from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, December 16th. Jefferies Financial Group reduced their price objective on shares of BigCommerce from $11.00 to $9.50 and set a “hold” rating for the company in a report on Monday, December 19th. KeyCorp reduced their price objective on shares of BigCommerce from $25.00 to $15.00 and set an “overweight” rating for the company in a report on Monday, November 7th. Finally, Needham & Company LLC started coverage on shares of BigCommerce in a report on Friday, December 16th. They set a “buy” rating and a $20.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.77.

BigCommerce Stock Up 5.0 %

The company has a debt-to-equity ratio of 5.18, a quick ratio of 5.66 and a current ratio of 5.66. The stock has a market cap of $713.23 million, a price-to-earnings ratio of -4.99 and a beta of 0.31. The firm’s 50-day simple moving average is $8.86 and its two-hundred day simple moving average is $13.77.

BigCommerce (NASDAQ:BIGC – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.03. The firm had revenue of $72.39 million during the quarter, compared to analysts’ expectations of $69.68 million. BigCommerce had a negative net margin of 51.99% and a negative return on equity of 89.29%. On average, sell-side analysts expect that BigCommerce Holdings, Inc. will post -1.24 EPS for the current fiscal year.

Institutional Investors Weigh In On BigCommerce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Madison Asset Management LLC increased its position in BigCommerce by 1.5% in the 2nd quarter. Madison Asset Management LLC now owns 91,020 shares of the company’s stock valued at $1,475,000 after acquiring an additional 1,378 shares in the last quarter. Essex Investment Management Co. LLC grew its position in shares of BigCommerce by 29.6% during the 3rd quarter. Essex Investment Management Co. LLC now owns 6,069 shares of the company’s stock worth $90,000 after buying an additional 1,385 shares during the period. HighTower Advisors LLC grew its position in shares of BigCommerce by 8.2% during the 1st quarter. HighTower Advisors LLC now owns 18,730 shares of the company’s stock worth $414,000 after buying an additional 1,425 shares during the period. Advisors Asset Management Inc. grew its position in shares of BigCommerce by 81.9% during the 1st quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock worth $81,000 after buying an additional 1,673 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of BigCommerce by 37.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,704 shares of the company’s stock worth $109,000 after buying an additional 1,811 shares during the period. Institutional investors and hedge funds own 72.36% of the company’s stock.

BigCommerce Company Profile

(Get Rating)

BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company's platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations.